Principal Financial Group Inc. Sells 18,777 Shares of Arcus Biosciences, Inc. (NYSE:RCUS)

Principal Financial Group Inc. cut its holdings in shares of Arcus Biosciences, Inc. (NYSE:RCUS) by 6.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 255,611 shares of the company’s stock after selling 18,777 shares during the period. Principal Financial Group Inc. owned approximately 0.28% of Arcus Biosciences worth $3,908,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RCUS. ProShare Advisors LLC grew its stake in shares of Arcus Biosciences by 7.4% in the first quarter. ProShare Advisors LLC now owns 10,846 shares of the company’s stock worth $205,000 after acquiring an additional 746 shares during the period. State Board of Administration of Florida Retirement System raised its stake in Arcus Biosciences by 16.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 17,492 shares of the company’s stock valued at $319,000 after buying an additional 2,420 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Arcus Biosciences by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 4,791,244 shares of the company’s stock worth $90,459,000 after buying an additional 110,528 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Arcus Biosciences by 5.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,764 shares of the company’s stock worth $657,000 after buying an additional 1,906 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Arcus Biosciences by 1,396.1% in the second quarter. SG Americas Securities LLC now owns 129,292 shares of the company’s stock worth $1,969,000 after acquiring an additional 120,650 shares during the period. 92.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RCUS has been the topic of several research reports. Barclays raised their target price on Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. HC Wainwright restated a “neutral” rating and set a $20.00 target price on shares of Arcus Biosciences in a research report on Wednesday, November 6th. Wedbush reaffirmed an “outperform” rating and set a $36.00 target price on shares of Arcus Biosciences in a report on Thursday, November 7th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcus Biosciences in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company started coverage on Arcus Biosciences in a research report on Tuesday, October 8th. They issued an “overweight” rating and a $29.00 price objective on the stock. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $34.00.

Arcus Biosciences Stock Down 2.2 %

Shares of RCUS opened at $14.30 on Friday. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average of $16.43 and a 200 day moving average of $16.07. The company has a market cap of $1.31 billion, a PE ratio of -4.54 and a beta of 0.89. Arcus Biosciences, Inc. has a 52-week low of $13.49 and a 52-week high of $20.31.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Wednesday, November 6th. The company reported ($1.00) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $0.06. The firm had revenue of $48.00 million during the quarter, compared to analyst estimates of $38.95 million. Arcus Biosciences had a negative net margin of 102.66% and a negative return on equity of 45.59%. The business’s revenue was up 50.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.94) EPS. On average, sell-side analysts expect that Arcus Biosciences, Inc. will post -3.2 EPS for the current year.

Arcus Biosciences Profile

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.